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Navy Federal Credit Union / checking/savings accounts unauthorized assessments to account

1 United States Review updated:

I've had navy federal for the past two years and their inaddiquate system never fails to amaze me. I am very careful about my account and my spending and once again for the millionth time they have re assessed and moved money around in my accounts to cover some fee or bad transaction that doesn't show up on my account! And when you call them they can't tell you much besides well you account was re accessed to cover an outstanding balance or something along those lines. If you have an option to use another bank i'd suggest you do so. Just not b of a either. I swear i'm taking all my money out of all the accounts and just being done with it.

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  • Ko
      1st of Aug, 2009
    0 Votes

    I had similar issues, along with the fees being backdated and causing even more fees. This is how they make their money. Their multimillion dollar ad campaigns for more members don't pay for themselves, you know. The fees you and I paid help fuel NFCU's growth, when they can't even support their current membership load (try going to a branch and time how long you wait in line).

    Interesting that a "non-profit" entity (that you and I are part-owners of) need to assess fees like this in the first place, let alone the shifty practices of transferring funds automatically and causing the fees to occur.

    I found a local credit union and haven't looked back since.

  • It
      30th of Sep, 2009
    0 Votes

    I agree, and I wish I would have read your story 6 months ago and the other ones I have read tonight. It is just amazing what this bank and many other ones have done. I think I am going to move my money to a small town bank. I have Bank of America military bank. I had a lot of problems with them many many months ago, but I guess they got a lot of complaints, and seem to be better right now. But I am still going to look into a small bank and put my money there.

  • Co
      23rd of Nov, 2009
    0 Votes

    I'm leaving Navy Federal because the way they do business is downright inexcusable. I've been with them for 21 years and ahve always made payments with them on time, but yet they can raise my interest rates because of the economic conditions. Ever since i refinanced my home with another company for lower interest rate, they have turned their back on me. I have no debt with them and i'm long Navy Federal!!!

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